☕️ Bet Each Way
No matter what you drive, Exxon wants to get you there.
Exxon Mobil is throwing its heft behind lithium.
The oil giant says it will begin producing battery-grade lithium as soon as 2027 in its new bid to become a global lithium powerhouse. By 2030, it hopes to be helping produce enough to power one million electric vehicles every year.
Talk about having a bet each way.
ASX as at market close. Commodities and crypto in USD.
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The Elders share price soared on Monday despite the company revealing its after tax net profit fell 38% on the previous year. But it was patently still a solid result with plenty the market seemed to like.
Long-term CEO Mark Allison announced he would be sticking around after a recruitment search turned up no suitable replacement. A rosier than expected outlook also helped encourage the exuberance.
Throw in a string of recent acquisitions and more in the pipeline and Allison believes there’s plenty of room to grow.
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The quick sync
EY executives are fighting over the mandatory retirement age in the latest leadership race. (Financial Times)
Rival banks fear ANZ's Suncorp appeal could expose their confidential material. (Capital Brief)
Chinese investment is fuelling fears of a green energy bubble. (WSJ)
Alternative asset manager MA Financial is betting on marinas despite rising rates. (Capital Brief)
Emirates has placed a US$52 billion order with Boeing as Middle Eastern carriers drive new aircraft demand. (CNBC)
Medibank Private is jostling with Intermediate Capital Group and Partners Group in the final round to buy Cura Day Hospitals. (AFR)
Vocus Group eyes another attempt at TPG Telecom's assets after the collapse of a $6.3bn deal. (AFR)
Ramsay Sime Darby Health Care's $1.88bn sale exceeded expectations, but Ramsay Health Care is mum on next steps amid shareholder pressure. (The Australian)
KKR accelerates infrastructure pursuit, partnering with Scott Farquhar and Kim Jackson for Queensland Airports bid. (AFR)
Whitehaven Coal expresses interest in Brazilian Rare Earths ahead of ASX listing. (AFR)
Seven West Media's share purchase in ARN Media sparks speculation on Kerry Stokes' acquisition strategy. (The Australian)
Rising interest rates dampen infrastructure auctions as investors "take a breather" from dealmaking. (AFR)
CDC Data Centres expands debt facilities with Barrenjoey Capital Partners. (AFR)
Seven West Media is poised for a board seat at ARN Media after a stock raid, but its plans for media consolidation remain uncertain. (The Australian)
Ainsworth Game Technology explores privatisation options amid a challenging year for ASX gaming stocks. (AFR)
The Yard Gym partners with F45 co-founder Rob Deutsch to accelerate location expansion. (BNA)
Australian mining heavyweights are eager for lithium assets as Delta Lithium seeks a $70.2m investment. (AFR)
Magic Valley, a sustainable cultivated meat startup, expands production capacity with a state-of-the-art pilot facility at Co-Labs. (BNA)
Melbourne's venue management software platform, Roller, secures over $100m in funding in less than a year. (Startup Daily)
Gold Coast cleaning startup Spruces raises $2m to enhance AI-driven worker monitoring technology. (BNA)
Australian tech firm Deputy achieves maiden profit as revenue surges 38%. (AFR)
Fintech Kashcade has secured $5.5m in funding to expand its non-dilutive capital offerings for startup founders. (Startup Daily)